19-Jul-2011 Source: Ex-Im Bank
WASHINGTON, D.C. — Sikorsky Aircraft Corp. in Stratford, Conn., will export a new S-92 helicopter to Lider AviaÃ§Ã£o, the largest air-taxi service company in Brazil, with the support of a long-term loan guarantee of approximately $18 million from the Export-Import Bank of the United States (Ex-Im Bank). The guaranteed lender is the Private Export Funding Corp. (PEFCO) in New York, N.Y.
Ex-Im Bank support was needed due to the unavailability of long-term commercial financing on acceptable terms and to level the playing field for Sikorsky, which faced strong competition from foreign companies backed by European export-credit agencies.
“Brazil is a powerful emerging market and one of nine key markets where Ex-Im Bank is focusing its resources to help U.S. exporters realize great opportunities to increase sales and add jobs. We are pleased to assist Sikorsky in expanding its exports and continuing to build a strong customer relationship with Lider,” said Ex-Im Bank Chairman and President Fred P. Hochberg.
“We thank Ex-Im Bank for its efforts and ability to serve our customers in the fast-growing Brazilian market where more than 100 Sikorsky helicopters are now operating,” said Carey Bond, president, Sikorsky Global Helicopters. “Brazil is an important country to Sikorsky and a key part of our strategy to further globalize our operations.”
Since 2004, Ex-Im Bank has authorized five transactions totaling nearly $150 million to support Lider AviaÃ§Ã£o’s acquisition of U.S.-manufactured Sikorsky helicopters and U.S.-manufactured Hawker Beechcraft aircraft.
Sikorsky Aircraft Corp. designs, manufactures and services military and commercial helicopters and fixed-wing aircraft. Founded in 1925, the company’s primary manufacturing facility is in Stratford, Conn. Sikorsky has a global workforce of 18,000, of which 16,000 employees are based in the United States.
About Ex-Im Bank:
Ex-Im Bank is an independent federal agency that helps create and maintain U.S. jobs by filling gaps in private export financing at no cost to American taxpayers. The Bank provides a variety of financing mechanisms, including working capital guarantees, export-credit insurance, and financing to help foreign buyers purchase U.S. goods and services.
In the first nine months of fiscal year 2011 (through June 30), Ex-Im Bank approved nearly $22 billion in total financing authorizations — a historic year-to-date record — supporting $28.1 billion in U.S. export sales. These sales will support approximately 189,700 American jobs in communities across the country.